Burma tries to lure new wave of hotel investment

Burma – officially known as Myanmar – which was until very recently a closed-off and controversial country to visit, is now inviting investment in its hotel industry. Twenty-one hotels with almost 4,000 rooms have already been completed at a combined cost of more than US$655 million, and another US$285 million has been put into the construction of four more projects with 1,385 rooms.Asian investors are the most visible. US$593.5 million has come from Singapore, US$202.5 million from neighbouring Thailand, US$68.75 million from Japan, US$77 million from Hong Kong and US$5 million from Malaysia.TravelDailyAsia[pictured: Panorama of temples, Bagan]